Creates a one-time grant for employers to enhance cybersecurity
Impact
The implementation of SB1355 is anticipated to support the cybersecurity infrastructure of small businesses across Missouri. With a capped budget of ten million dollars each fiscal year for the grant program, the bill seeks to localize funding and ensure that it primarily benefits small employers first. However, it also earmarks priority for companies engaged in contracts with the state to enhance critical infrastructure, indicating a dual approach that aims to bolster the overall security posture of the state while also promoting small business growth.
Summary
Senate Bill 1355, introduced by Senator Williams, aims to enhance cybersecurity for employers through a grant program administered by the Department of Economic Development. The bill establishes a framework for granting one-time financial assistance to businesses, particularly focusing on small employers with one to fifty employees. The funding provided can cover up to ninety percent of the costs associated with cybersecurity enhancements, which can include hardware, software, installation, employee training, and risk assessments.
Contention
While supporters argue that this initiative provides essential financial support to help businesses adapt to an increasingly digital landscape where cybersecurity threats are proliferating, concerns may arise regarding the sufficiency of funds and the bureaucratic processes that could complicate access for small employers. Additionally, the provision that limits eligibility to only one grant per employer may be seen as a restrictive measure. Overall, the bill is positioned as a necessary response to the critical need for improved cybersecurity measures within the state.